An Ongoing Marketing Research System That Collects Customer Insights and Intelligence

question 52

Multiple Choice

An ongoing marketing research system that collects customer insights and intelligence to influence and drive business decisions is referred to as:

• A)an observation.
• B)the zone of tolerance.
• C)a voice-of-customer program.
• D)distributive fairness.
• E)procedural fairness.

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Definitions:

Highly Competitive

A market structure characterized by a large number of small firms, free entry and exit, and a high level of competition where no single firm can significantly influence market prices.

Simple Indicator

A quantitative measure that can be used to gauge or describe the performance or status of a particular phenomenon.

Sellers

Individuals or entities that offer goods or services for sale to buyers in the market.

Perfect Competition

A market structure characterized by a large number of small firms, identical products, and free entry and exit which leads to firms selling at the market price.